FX Headlines: Canadian Retail Sales Disappoints in December

Retail sales in Canada fell 0.2 percent in December after climbing a revised 1.5 percent the month prior amid economists’ expectations of 0.0 percent. Taking a look at price action, the USDCAD pared yesterday’s decline; however upside risks remain capped by 0.9940 which coincides with the descending trend line dating back to November 29th.

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